Hedera Shortlisted for Australia CBDC Project Backed by Australian Government AllinCrypto May 16, 2025
Hashgraph’s HashSphere network may have been shortlisted among other networks to partake in a digital currency project led by the Reserve Bank of Australia.
Funded by the Australian government, Project Acacia explores how digital money can be utilized in wholesale markets.
According to the Reserve Bank of Australia, the future of money is onchain and within the blockchain, with Hedera’s network coming out on top as a network enabling such innovations.
Hedera private network shortlisted to lead Reserve Bank of Australia CBDC project
Hedera has been highlighted by the Reserve Bank of Australia as being a blockchain network capable of enabling new ways of using digital money.
Because Hedera was noted as a permissioned private network, it seems Hashgraph’s HashSphere network may be chosen over Hedera Hashgraph since Hedera is a public ledger.
The Australian government’s Project Acacia, in collaboration with the Digital Finance Cooperative Research Center, has called out HBAR in recent reports for supporting the development of wCBDCs.
In recent Project Acacia material, the US’s push for stablecoin legislation with the GENIUS and STABLE Acts has influenced Australia’s outreach into digital assets.
The UK Treasury’s draft legislation on digital assets was also considered an influence, with new crypto asset rules in the UK set to help boost crypto adoption in the region in collaboration with the US.
Rob Allen of Australian Payments Plus and SVP for Ecosystem Acceleration at the Hedera Foundation will lead discussions on the project and possible Hedera adoption.
Hedera rebrand to increase DeFi and AI efforts
In recent weeks, Hedera has rebranded and renamed certain organizations within the HBAR ecosystem.
With the rebrand comes a refined focus on enhancing and expanding decentralized finance on Hedera, alongside introducing new AI capabilities and continued enterprise outreach.
Recent DeFi tools such as the Hedera Smart Contract Builder by Kabila and the Hedera AI Studio aim to streamline development on Hedera, making it easier for newcomers and non-HBAR devs to create dApps for the ecosystem.
The post Hedera Shortlisted for Australia CBDC Project Backed by Australian Government first appeared on AllinCrypto.
